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Britain and America may be two nations separated by a common language but Donald Trump’s election will have a huge impact on the UK economy. The implications are only just sinking in, and the British government seems weirdly in denial, but here are a few of the most important likely impacts.

First, we thought that Mark Carney’s reappointment meant that UK monetary policy would remain on its current course for at least the next two or three years. That is now unlikely, and global monetary policy (and inevitably the UK’s too) will be reset far sooner. Janet Yellen won’t be rehired as the Federal Reserve’s boss in February 2018, and Trump and his economic advisers will have an opportunity – if they...